<q>Retail sales fell 8.7 percent in March, the largest drop ever on record, and clothing and accessory sales dropped most of all, by 50.5 percent.

So far, Gap has canceled its orders for the fall season. JC Penney and Nordstrom are rumored to be filing for Chapter 11 if store closures extend into summer. Macy’s has furloughed the majority of its nearly 130,000 employees. Rent the Runway laid off its entire in-store staff over Zoom. Though brands have focused their efforts on e-commerce sales, most retailers say they’re not expecting online orders to make up for the loss of in-store purchases</q>Nobody’s buying clothes right now. So stores are filing for bankruptcy. - Voxhttps://www.vox.com/the-goods/2020/4/19/21227275/neiman-marcus-bankruptcy-coronavirus-retail

From the clothing shopper's perspective there are some great markdowns available right now as retailers scramble to keep some cash flow going. If there's an item you need / want, now might be a good time to shop for it.

Hussman, who’s been very vocal about getting burned by his bearish misfires in recent years said the current position of this market is reminiscent of Rodrigue’s “return to normal” stage. If that’s the case, “fear” and “capitulation,” followed by “despair,” are still to come.